More than 20 companies are hoping to grab one of Peru’s hottest copper assets, as the country readies to auction off the rights to develop it in December, authorities said Monday.
The $2 billion Michiquillay copper project, located in the country’s northern Cajamarca region, was originally scheduled to be auctioned off next month, but state bidding agency Proinversión decided to push back the date so that interested companies have more time to submit offers, it said in a statement (in Spanish).
Companies have until Nov. 2 to sign up for the auction. A contract for the project, said the agency, will be awarded on Dec. 20. Continue Reading →